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Saturated Polyester Resin Market worth 4.77 Billion USD by 2021
The report "Saturated Polyester Resin Market by Type (Liquid SPR and Solid SPR), Application (Powder Coatings, Industrial Paints, Coil & Can Coatings, Automotive Paints, Flexible Packaging, and 2K PU Coatings), and by Region - Global Forecasts to 2021", The global saturated polyester resin market is projected to reach USD 4.77 Billion by 2021, registering a CAGR of 5.83% from 2016 to 2021.
Browse 77 market data Tables and 42 Figures spread through 129 Pages and in-depth TOC on "Saturated Polyester Resin Market by Type (Liquid SPR and Solid SPR), Application (Powder Coatings, Industrial Paints, Coil & Can Coatings, Automotive Paints, Flexible Packaging, and 2K PU Coatings), and by Region - Global Forecasts to 2021"
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Increasing stringent regulations on VOC emissions leading to the development of eco-friendly technologies, such as powder coatings and waterborne coatings, are replacing solvent-borne coatings. This in turn drives the demand for saturated polyester resin, as they are one of the principal resin systems for powder coatings, and show high performance owing to superior mechanical properties. These factors contribute to the growth of the saturated polyester resin market.
Liquid SPR accounted for the largest share of saturated polyester resin market
Liquid SPR are primarily used for coil & can coatings and other uses, such as industrial paints, automotive paints, and 2k PU coatings. The growing demand for trim, soffit, fascia, other aluminum products, and commercial construction products, such as metal roofing, cladding, and HVAC equipment is driving the coil coatings market, which in turn drives the demand for liquid saturated polyester resin.
Powder coatings represent the bulk of the demand for saturated polyester resin
The powder coating segment will continue to account for the highest demand for saturated polyester resin because the powder coatings based on saturated polyester resin have good weather resistance, excellent impact strength, and adhesion to metals (even under humid conditions). Therefore, these are suitable for uses, such as in exterior and interior architectural applications, coating machinery, domestic appliances, steel furniture, and garden tools.
Asia-Pacific is estimated to account for the highest CAGR during forecast period
The U.S., China, India, and Germany are the largest consumers of saturated polyester resin. Factors, such as the need to reduce VOC emissions, huge and increasing addressable population base, rapid growth in construction activities, and increase in number of automobiles, wooden furniture, and other electronic appliances are driving the powder coatings market, which in turn is driving the Asia-Pacific saturated polyester resin market.
Key players in the saturated polyester resin market
Asia-Pacific is the largest market for saturated polyester resin, both in terms of volume and value, followed by Europe and North America. The key players in the global market include Royal DSM N.V. (Netherlands), Allnex Belgium SA/NV (Belgium), Arkema S.A. (France), Nuplex Industries (New Zealand), Stepan Company (U.S.), Evonik Industries (Germany), Nippon Gohsei (Japan), Covestro AG (Germany), and Megara Resins (Anastassios Fanis S.A.) (Greece).
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